News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Spanish health minister says the government recommends a total lockdown in Madrid
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.18% 🇦🇺AUD: 0.02% 🇯🇵JPY: -0.05% 🇨🇭CHF: -0.11% 🇪🇺EUR: -0.22% 🇬🇧GBP: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/37yFAZ530P
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:https://t.co/7kPzAoNoLG https://t.co/Fa4sDLIjww
  • 🇫🇷 Unemployment Benefit Claims (AUG) Actual: -171K Previous: -172.2K https://www.dailyfx.com/economic-calendar#2020-09-25
  • $GBP https://t.co/Gl9Hkc0nTr
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.12% US 500: -0.13% FTSE 100: -0.17% France 40: -0.95% Germany 30: -0.96% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/QPuCenpW2J
  • Heads Up:🇫🇷 Unemployment Benefit Claims (AUG) due at 10:00 GMT (15min) Previous: -172.2K https://www.dailyfx.com/economic-calendar#2020-09-25
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/ImXreWFFFY
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/SbVPuUmpTU
  • 🇮🇹 Consumer Confidence (SEP) Actual: 103.4 Expected: 100.8 Previous: 101.0 https://www.dailyfx.com/economic-calendar#2020-09-25
Trading Outlook for Equity Indices After Monday’s Surge; Crude Oil Nearing Support

Trading Outlook for Equity Indices After Monday’s Surge; Crude Oil Nearing Support

2017-04-25 11:10:00
Paul Robinson, Strategist
Share:

Join Paul every Tuesday-Friday for webinars. For details and a full line-up of all upcoming live events, please see the Webinar Calendar.

In this webinar, we took a look at the big ‘risk-on’ theme which gripped markets on Monday following the French election. The CAC 40 is well above the trend-line extending down from the 2000 record highs, but could use some time to digest before attempting to move higher. Keep in mind, still a lot of election risk with the run-off election between Macron and Le Pen coming up on May 7. The DAX blasted off to record highs and looks good on a shallow pullback to support under 12400. The FTSE 100 rallied sharply from support surrounding 7100 to resistance in the vicinity of 7255/300; can it break on through?

The S&P 500 may have ended its correction, but we still want to see it trade above 2378 first. The Nasdaq 100 is the leader in the U.S. and suggests the S&P and Dow will both move to new heights.

Crude oil is dropping towards a familiar trend-line which gave it good support last month. We will be watching to see how it reacts should it firmly test the trend-line; it may create an opportunity to catch a bounce. A nice key reversal bar off the t-line would provide good signaling it wants to turn higher.

Gold is rolling over from the 2011 trend-line despite USD weakness; silver is looking even unhealthier right now. Both precious metals have trend-line support below, but not sure they will make it to those levels if the US Dollar Index (DXY) is on the verge of a big breakdown. The DXY isn’t positioned very well, and may be on the cusp of a sizable drop. If this is the case, then gold and silver should start to perk up again. But, until we see gold overcome the 2011 trend-line it is hard to be a bull on precious metals no matter what the dollar is doing.

Copper is still pointed lower intermediately speaking, but could be in the process of carving out a bullish pattern which could send it higher at a later time. We’ll need to wait for further developments before drawing any concrete conclusions.

Looking for trading ideas? See our quarterly forecasts for FX, equity indices, and commodities.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES